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Author Topic: it mining worth it these days?  (Read 1469 times)
Macht
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January 25, 2013, 08:56:40 PM
 #21

ASIC are making new potential miners scared..to invest and join the game..

This uncertainty is exactly what makes it very interesting for everyone, I guess... IF the asics will arrive, the lucky ones who got the first batch will earn like crazy for two weaks and as usual afterwards, while the rest will have to sell their GPUs quite soon.
IF the asics are further delayed, miners who invested their hundreds/thousands of whatever currency in FGPA/GPUs will have an advantage cause their funds haven't been stuck.
At least, that's what I guess will be the case. I'm both glad and sad at the same time that I'm not gonna be a part of it...
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Macht
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January 25, 2013, 09:00:49 PM
 #22

Maybe it's just the newbie in me, but I'm suspicious of anyone selling mining rigs. If they are so good, why aren't you using them to mine for yourself? You can then cash in the coins and make your money that way?

OK, fine, you're not a mining company, you're a hardware company. Is it really that hard to form another company or partner?

Yeah I'm new too... and I was wondering the same thing. But then again, for some ppl, especially if you already have a business or other stuff to do, it might be better to focus on what you do best. Plus, afaik, they all (except asicminer) want to be payed in "conventional" currencies rather than bitcoin. So maybe there's also some kind of lack of trust with btc? I dunno, newb talking...
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January 25, 2013, 09:02:16 PM
 #23

Maybe it's just the newbie in me, but I'm suspicious of anyone selling mining rigs. If they are so good, why aren't you using them to mine for yourself? You can then cash in the coins and make your money that way?

OK, fine, you're not a mining company, you're a hardware company. Is it really that hard to form another company or partner?
This has been rehashed many times here already, but it always boils down to this:  It is more profitable to sell miners than to attempt to mine yourself without letting anyone catch on to the fact that you are mining yourself.  Because if they do, everyone would lose confidence in Bitcoin, the price would drop to the floor, and mining by yourself would be utterly useless.
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January 25, 2013, 09:28:53 PM
 #24

ASIC are making new potential miners scared..to invest and join the game..

This uncertainty is exactly what makes it very interesting for everyone, I guess... IF the asics will arrive, the lucky ones who got the first batch will earn like crazy for two weaks and as usual afterwards, while the rest will have to sell their GPUs quite soon.
IF the asics are further delayed, miners who invested their hundreds/thousands of whatever currency in FGPA/GPUs will have an advantage cause their funds haven't been stuck.
At least, that's what I guess will be the case. I'm both glad and sad at the same time that I'm not gonna be a part of it...

IF Avalon doesn,t deliver as promised and turns out to be a fraud, add up bAsic..i am almost certain there will be no Asic hitting the chain very soon..so al the theories are pretty worthless just like talking about it..

how hard is it to just;

turn on a camera
tape an ASIC devices hanging on a computer or standalone device
showing some hashrate onscreen with cgminer or whatever software thats freely availabel
post the proof over here like you are posting pictures of your minigrig
show the hell off..
take the camera again and film the factory making real devices let some trusted by the community really fly over to inspect.

Untill this has happend they can al scream en talk whatever they want...


Maybe it's just the newbie in me, but I'm suspicious of anyone selling mining rigs. If they are so good, why aren't you using them to mine for yourself? You can then cash in the coins and make your money that way?

OK, fine, you're not a mining company, you're a hardware company. Is it really that hard to form another company or partner?

If you or I would work at AMD the hell yeah i would ask them if could test 500 new hd7990  for them  Cheesy Cheesy Cheesy Cheesy Cheesy
OO but i ll also need a nuckplant to power them al up and keep the rigs running it is also a lot of work..al lot of..and offcourse you must understand the setup features ..the risk they would have to  take with those 500 x $1000 a pcs. gpu,s would be too big for them.....
 



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v3miner
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January 25, 2013, 11:24:49 PM
 #25

There are a few reasons I wouldn't be so quick to say ASICs will never happen.

1. It seems like most of the companies offering ASICs NOW, previously produced and sold FPGA clusters and are no longer doing so. I suppose it would be more profitable in the short term to sell something that doesn't exist vs the profit of selling something that does, but still it just doesn't make sense to me.

2. There's no reason ASIC's could not be made for this purpose. More or less, if you can do it with an FPGA, it can be done with an ASIC. That's not to say that the companies trying to sell them now have without a doubt actually manufactured, or even developed any, but it can be done.
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January 25, 2013, 11:58:32 PM
 #26

There are a few reasons I wouldn't be so quick to say ASICs will never happen.

1. It seems like most of the companies offering ASICs NOW, previously produced and sold FPGA clusters and are no longer doing so. I suppose it would be more profitable in the short term to sell something that doesn't exist vs the profit of selling something that does, but still it just doesn't make sense to me.

2. There's no reason ASIC's could not be made for this purpose. More or less, if you can do it with an FPGA, it can be done with an ASIC. That's not to say that the companies trying to sell them now have without a doubt actually manufactured, or even developed any, but it can be done.

It's a pleasure to read such a well-reasoned arguement. I suppose the only real aruguement about ASIC's eventually being produced is
the capital risk involved.

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dan9575
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January 26, 2013, 06:59:51 AM
 #27

It won't be worth mining when ACIS rigs come out which as of now will be sometime in february.
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January 26, 2013, 07:13:39 AM
 #28

Hello all,

I am thinking of setting up a mining operation.

according to http://blockexplorer.com/q/getdifficulty the current difficulty is 2968775.3320751 and the rate is 18.08342 (MTGOX), and the butterfly BitForce Single 'SC' is 60 GH/s... so... according the calculator at http://www.alloscomp.com/bitcoin/calculator I could mine 309 BTCs /month

I know calculating these estimates is not totally accurate, but if this estimate is anywhere near realistic, it seems like a good idea.

I guess I am just double checking with y'all in  case I missed something obvious... I ma kind of new to BTC so there are some things I don't yet fully understand.

Thanks for your feedback, and apologies if this has already been asked and answered somewhere in this forum.

I have been watching various ASICs and their development notes in the last couple months. I think Butterfly Labs has been pushing their release date pretty much every other month. I'm almost thinking that it's a scam. Don't give them money. They aren't really entitled to do anything for you if the company "Goes out of Business". You would be fighting some crazy legal battle to get your money back. I'm not entirely sure that what ASICs claim they can do is even possible from my research. I have been video card mining when my computer is on and I'm doing really low impact browsing and I make about  ฿0.04 a day. I would take Bitcoin as a hobby instead of a money making plan or investment.

You like my post? Buy me a beer for ฿0.01
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